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This essentially is your pitch as to why you want to have your video business in the first place.It definitely helps to make it catchy, but more importantly, it has to reflect what you really intend to execute in your business.
It helps to analyze the general state of your industry.
The Strengths and Weaknesses focus on your potential video production company, while the Opportunities and Threats are an analysis outward.
A good ‘roll out plan’ helps to prevent crazy scenarios like that. Management and anticipation of the cash flow is one thing. It’s about this time that mentioning an accountant is pretty important. To augment your Financial plan, and further solidify the justification of how revenue and projects come in, think about how you want to market your video production business effectively.
A business is only as good as its network and its reputation.
According to oneplanner’s Video Production Business Plan guide, there are 10 stages to a business plan: So, your initial step is really to sit down and think about your overall plan.
I recommend working from top down, where you’re able to have a general idea of what you would like to have, your priorities.
Don’t just look at personal strengths and weaknesses — look at the bigger picture.
While you go through this exercise, you may find what you can highlight (Strengths), how to improve (Weaknesses), what you can take advantage of (Opportunities), and what may stop your business from growth (Threats).
Knowing this information can help you evaluate how to set yourself apart, as well as how to compete with them. This is a useful question to ask if you’ve been in business for a few years before creating your business plan.
If it’s a new video business, then you can adapt the question to something like, “ Here’s a useful graphic courtesy of Finance New Mexico: The discussion that goes into this should be a very objective one.